RMG 200 Lecture Notes - Lecture 1: Shoppers Drug Mart, Vertical Integration, Instant Gratification

• School: Ryerson University
• Department: Retail Management
• Course: RMG 200
• Professor: Mark Lee

Document Summary

A set of business activities that add value to the products and services sold to consumers for their needs. Retailers can present the product and make it more desirable desirable. Sells the same product at different price points. What merchandise/service to provide to meet the needs of the consumer. Quality: how well it meets the needs of the consumer. How the retailer builds a competitve advantage & More retailers are providing both service and products. Inseparable = performed and consumed at the same time. Depth: # of sku"s within each product lines. Low price = less service, less perks. A retailer that sells merchandise or service through more than one channel. By using a combination of channels, retailers can exploit the unique benefits provided by each channel. Carries a narrow product line with a deep assortment. Each line is operated as a separate department. Carries a limited line of high-turnover convenience products at slightly higher prices.